Protecting yourself and your money

Posted by ac652 at Nov 08, 2019 12:10 PM |
Don't be fooled by offers to earn quick cash with little effort, you could unknowingly be committing a crime.

Fraudsters may ask you to receive money into your bank account and transfer it into another account, keeping some of the cash for yourself. If you let this happen, you're a money mule. You're involved in money laundering, which is a crime.

You can be approached by fraudsters online or in person. They might post what looks like a genuine job ad, then ask for your bank details.



Once you become a money mule, it can be hard to stop. You could be physically attacked or threatened with violence if you don't continue to let your account be used by criminals.

When you're caught:

  • Your bank account will be closed
  • You will find it hard to access further student loans
  • It will be difficult to get a mobile phone contract
  • You will have problems applying for credit
  • You could go to prison for up to 14 years

Students can become money mules unwittingly. They might think they're giving out their bank details for a genuine reason, then end up involved in money mule fraud.

Don't Be Fooled. Follow this advice:

  • Don't give your bank account details to anyone unless you know and trust them
  • Be cautious of unsolicited offers of easy money. If it sounds too good to be true, it probably is
  • Research any company that makes you a job offer and make sure their contact details are genuine
  • Be wary of job offers from overseas. It will be harder for you to find out if they are legitimate
  • Be wary of job ads that are written in poor English, with grammatical errors and spelling mistakes

Visit the Don't Be Fooled website to find out more.

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